Spain’s Electricity Sector Can Finally Celebrate A Tariff Surplus
The Industry Ministry revealed that the tariff surplus for 2014 will be over €600 million (the result of the last available liquidation, number 14, was a €460 million deficit).
Spanish economy
Spanish Banking Sector Reform: A Second Round On The Cards
Despite the fact that many of the banking sector ratios are improving, the Bank of Spain in its November bulletin has once again called on the industry to adjust its business model and even adapt its corporate strategy to a demanding economic and regulatory environment.
Spain CPI up 0.6% mth-on-mth; but yr-on-yr trend still negative
The day after Draghi warned about greater than expected weakness in Eurozone inflation data, Spain’s final October inflation number has been published, confirming the -0.7% year-on-year preliminary figure. But despite the fact inflation remains in negative territory, the CPI rose 0.6% month-on-month.
Spain’s BBVA off systemically important banks list
The Financial Stability Board (FSB) announced yesterday that it has removed BBVA from its list of 30 global systemically important banks. Spain’s second biggest entity has been included in this list since 2012. But the lender will still be subject to other loss-absorbing capacity obligations, such as Minimum Requirement for Own Funds and Eligible Liabilities (MREL).
And what if salaries in Spain are increased as Popular’s chairman proposes?
Popular chairman Angel Ron’s proposal to raise salaries in line with productivity in order to speed up the consolidation of economic growth is clearly at least worthy of a discussion. In the short-term, it would have repercussions not only on corporate profits but also on improving confidence, the recovery in consumption, the increase in production and job creation.
Spain Hotel Sector Heats Up On Favourable Yield Premium
Foreign investors are pumping more money into buying, building or converting hotels in Spain, as they cash in on the positive trend in two key industries: real estate and tourism.
Spanish Economy’s Structural Jobless Rate Seen At 15% In 2018
Experts are forecasting an unemployment rate of 15% in 2018, when it is estimated that Spain’s economy will have reached its GDP growth potential, so that figure could represent its structural jobless rate. This decline in the unemployment rate, the starting point of which was 26% at the lowest point in the economic cycle, is substantial. But it will still be high compared with other eurozone countries.
Car production In Spain Rises 26.7% In September
Car production in Spain rose 26.7% in September, as the country’s automotive plants assembled about 9,000 vehicles per day, their highest production level since April 2008.
Spain’s Mid-Sized Banks Need To Improve P&L Ahead Of Consolidation
Spain’s medium-sized banks are prime targets in the next expected round of sector consolidation. But these lenders need to improve their P&L accounts ahead of further integration.
Spain Calls Elections With One Eye On Portugal
Fernando Barciela | Passos Coelho won the elections in Portugal with 38.6% of the vote, but lost his majority in parliament. Even though he has been tasked with forming a new government, Portuguese left parties have adopted a pragmatic approach which makes an agreement between the Socialist Party, Communist Party and Bloco de Esquerda increasingly likely. For the time being, they have already appointed Eduardo Ferro Rodrigues, a socialist, as the President of the parliament.